-$0.36 Earnings Per Share Expected for Carrols Restaurant Group, Inc. (NASDAQ:TAST) This Quarter

Equities research analysts expect Carrols Restaurant Group, Inc. (NASDAQ:TAST – Get Rating) to announce ($0.36) earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Carrols Restaurant Group’s earnings, with estimates ranging from ($0.39) to ($0.32). Carrols Restaurant Group reported earnings of ($0.13) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 176.9%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Carrols Restaurant Group will report full-year earnings of ($0.40) per share for the current fiscal year, with EPS estimates ranging from ($0.59) to ($0.26). For the next financial year, analysts anticipate that the business will report earnings of ($0.11) per share, with EPS estimates ranging from ($0.20) to ($0.01). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Carrols Restaurant Group.

Carrols Restaurant Group (NASDAQ:TAST – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The restaurant operator reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05. The firm had revenue of $416.13 million during the quarter, compared to analyst estimates of $420.00 million. Carrols Restaurant Group had a negative net margin of 2.60% and a negative return on equity of 8.94%.

A number of equities research analysts have recently weighed in on TAST shares. StockNews.com started coverage on shares of Carrols Restaurant Group in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research lowered shares of Carrols Restaurant Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 2nd. Finally, Stephens downgraded shares of Carrols Restaurant Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $6.00 to $3.00 in a research note on Wednesday, January 5th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Carrols Restaurant Group has a consensus rating of “Hold” and an average price target of $4.20.

Shares of TAST traded down $0.01 during mid-day trading on Wednesday, reaching $2.06. The company’s stock had a trading volume of 9,323 shares, compared to its average volume of 297,141. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.32 and a current ratio of 0.41. Carrols Restaurant Group has a 52 week low of $1.93 and a 52 week high of $6.49. The stock’s fifty day moving average price is $2.44.

Several hedge funds and other institutional investors have recently modified their holdings of TAST. Morgan Stanley increased its stake in shares of Carrols Restaurant Group by 486.4% in the second quarter. Morgan Stanley now owns 131,604 shares of the restaurant operator’s stock worth $792,000 after buying an additional 109,162 shares during the period. Royal Bank of Canada increased its position in Carrols Restaurant Group by 37.8% during the 2nd quarter. Royal Bank of Canada now owns 57,757 shares of the restaurant operator’s stock valued at $347,000 after purchasing an additional 15,844 shares during the period. Wells Fargo & Company MN increased its position in Carrols Restaurant Group by 107.6% during the 2nd quarter. Wells Fargo & Company MN now owns 214,504 shares of the restaurant operator’s stock valued at $1,289,000 after purchasing an additional 111,168 shares during the period. SG Americas Securities LLC purchased a new position in Carrols Restaurant Group during the 3rd quarter valued at $73,000. Finally, Raymond James & Associates increased its position in Carrols Restaurant Group by 95.7% during the 3rd quarter. Raymond James & Associates now owns 39,870 shares of the restaurant operator’s stock valued at $146,000 after purchasing an additional 19,500 shares during the period. 38.10% of the stock is currently owned by institutional investors.

Carrols Restaurant Group Company Profile (Get Rating)

Carrols Restaurant Group, Inc, through its subsidiaries, operates as a restaurant company in the United States. The company operates as a Burger King and Popeyes franchisee. As of January 2, 2022, it operated 1,026 Burger King restaurants located in 23 Northeastern, Midwestern, Southcentral, and Southeastern states; and 65 Popeyes restaurants in seven Southeastern states.

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